Macca faces music industry mega-battle for rights to old Beatles songs

GLOVES ON: Sir Paul McCartney is getting set to battle it out for his song rights [FILMMAGIC]

Sony Music is planning to sell its 50% share in the back catalogue – which brings in tens of millions of pounds in royalties every year – following the devastating hack attack on the company’s computers.

Financial experts reckon Sony’s stake could go for up to £1.3billion.

“This could evolve into one of the biggest financial battles our industry has ever seen.”

Senior Sony Music executive

Macca, now 72, is reportedly seeking wealthy backers to help him make an offer.

But it has emerged the estate of Michael Jackson which already owns the other 50% is also planning a massive bid, along with billionaire moguls David Geffen, 71, and Len Blavatnik, 57, who owns Warner Music.

Macca has always rued the fact Jacko managed to acquire the half share of the catalogue for a mere £30.4million in 1985.

Jon Rubin, a music industry financial expert based in LA, said: “I would imagine Sir Paul will need to find other investors and form a consortium if he is to stand a chance of once more owning the unforgettable songs he and John wrote.”